Credit report companies (bureaus) are central clearinghouses for credit related information.  They collect information from creditors, and sell credit reports to individuals or companies who will use it to evaluate you for credit risk, employment, insurance, licensing, or any legitimate business need.  You are also entitled to see what is on file at the various credit report companies.

Information that is on file at the three major credit report companies includes:

  • consumer identification such as full name, address, employment, spouses name and employer
  • credit history including account numbers, date initiated, amount borrowed, terms, and type of credit, along with the number of payments outstanding balances, amounts past due and the frequency of lateness are outlined by credit report companies
  • credit report companies include public record items such as suits, judgments, tax liens, or bankruptcies 
  • credit inquiries of companies or individuals who have requested a copy of your credit report within the last l8 months
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Credit report companies add any new data to existing information on file to create a month-by-month credit history of individual consumers.  Businesses can then use the information from individual credit report companies to decide your credit worthiness.  For more information on your understanding what is on your credit file, read our section on credit reports.

There are three main credit report companies which provide this information.  You can read more about the individual credit report companies below.

If you have any questions or complaints about credit report companies, you can write to the:

Federal Trade Commission

Division of Credit Practices

Washington, DC  20580